I have a business owner who's had a successful shop for 10 years wants to buy the house for 235k. He has 25-35k to put down. He's married but just put his wife (has a SS and credit score of 750) on the books last we...

I'm trying to understand the tax implications of how I would set it up since it would be a single-family home with rooms that I would rent out.

I just transitioned to doing real estate “full-time”, but the foundation I built in the first two years set me up to be successful as I have transitioned to full-time.Many college students spend more time socializing and partying then they do in class and studying.

I agree with Brian that there’s not much you can do from a recourse monetary standpoint but there’s plenty to do from a social media reputation standpoint.

The refi/HELOC funds could double that – which would be nice to have a pocket of cash to do any repairs, have emergency funds for the property, pad our overall emergency fund.I’ve started to do some research on what the implications of any of these options are, but would appreciate any advice/thoughts that people have.So far I’ve opened up the conversation to get quotes for cash-out-refi at a few lenders, and spoken with my original condo lender about the same or a HELOC.

- Use Symon He's Real Estate Analysis Foundations course on Lynda.com to do 'back of the envelope' analysis on each area- Re-read BP's Rental Property Investing and Flipping Houses books- Post 5-10 owner paid rental listings onto social mediaKathy

Example: -reasons to believe they are lying on the application -being the direct supervisor of them or their wife, in a separate business-domestic disturbance issues-history of drug use -reports of poor living conditions - saying the don’t have pets, but social profiles seem to say otherwise

because you don't have access to MLS and other resources, you may just want to take to social media and other means to advertise the deal.  

Perhaps some database or social network dedicated towards connecting investors and wholesalers?

You can also buy lists from companies like list source and there are some REI software companies that have a cash buyer search feature.Best way to find motivated sellers is to purchase lists and compile lists from city and county for 60-90-120 days late on mortgage, pre-foreclosure, delinquent taxes, water cutoff, code violation, probate, divorce, high equity, etc. and mail or cold call.Other methods are driving for dollars, door knocking, wholesalers, craigslist, Realtors, FSBO sites, expired listings, foreclosure sites, put out bandit signs, billboards, newspapers, other offline publications.You can use pay per click/adwords, facebook, Linkedin, Youtube, and other forms of online and social media.